Key data from Fastmarkets' pricing session in Europe on Wednesday April 1. Key drivers Russia, a supplier of 40% of European ferro-titanium, is on lockdown due to the Covid-19 virus pandemic until next week and it could be extended.Russian producers are considering declaring force majeure should the lockdown continue beyond a week. Titanium scrap prices are stable...Read More
China will extend the new energy vehicle (NEV) purchase subsidy and purchase tax exemption policy for two years in an effort to support consumption and mitigate the impact of the Covid-19 pandemic on the economy. Yet the measures may not be sufficient to drive lithium and cobalt market development significantly in the near term, Fastmarkets heard. Chinese Premier Li Keqiang announced at a State Co...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Having first hit Asia during early 2020, the Covid-19 viral outbreak is now having an even bigger impact on European countries and the US. Widespread lockdown measures have been put in place on people and industry, and economic activity has slowed markedly.For now, stainless steel markets in Europe and the US are yet to show...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.This month's key ferro-alloy forecast highlights:While the ferro-alloy industry's initial response to the Covid-19 outbreak was marked by rising prices primarily in response to supply-side concerns, focus has now shifted somewhat. As Chinese activity slowly returns to more normal levels, for alloys with a strong Chinese produ...Read More
After months of virtual inactivity, supply worries from Russia, a major exporter of ferro-titanium to Europe, have sparked upward movement in European spot prices that may trend higher in the near term, trade sources told Fastmarkets. Fastmarkets' ferro-titanium 70% Ti, max 4.5% Al, ddp Europe price jumped by more than 10% week on week on Wednesday April 1 to $4.50-5.00 per kg from $4.10-4.50...Read More
Markets seem to be in the calm before the United States employment data storm this morning, Thursday April 2, with metals prices mixed, trading volume low and not much movement on equity indices for a change. * Asian-Pacific equity indices were mixed this morning, but pre-market western futures were firmer with the Dow Jones Industrial Average up by 1.2% as at 7 am London time. * Stocks in Asia in...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 36 points in pre-opening trade.Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for Weekly Jobless Claims was a slip to 3.000 million from 3.283 million last week. Actual was 6.65 million. Consensus for the February U.S. Trade Deficit was $43 billion versus $45.30 bill...Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 31 that are worth another look.The Spanish steel industry has demanded clarification from the government following a March 29 decree to shut down all non-essential production as part of the battle to contain the Covid-19 pandemic, Fastmarkets heard on March 31.The closure of borders and reduced port operations across African...Read More
A summary of base metals premiums from across the globe for the week to Tuesday March 31.Please click...Read More
The closure of borders and reduced port operations across African countries have led to month-long delays of copper cargoes, while suppliers have raced to re-route goods over the past week. "We are now stressed out trying alternative routes. But the problem is even if the cargoes can depart from other ports, their port capacities are significantly lower. We are talking about delay in terms of mont...Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 31 that are worth another look.The Spanish steel industry has demanded clarification from the government following a March 29 decree to shut down all non-essential production as part of the battle to contain the Covid-19 pandemic, Fastmarkets heard on March 31.The closure of borders and reduced port operations across African...Read More
The closure of borders and reduced port operations across African countries have led to month-long delays of copper cargoes, while suppliers have raced to re-route goods over the past week. "We are now stressed out trying alternative routes. But the problem is even if the cargoes can depart from other ports, their port capacities are significantly lower. We are talking about delay in terms of mont...Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 31 that are worth another look.The Spanish steel industry has demanded clarification from the government following a March 29 decree to shut down all non-essential production as part of the battle to contain the Covid-19 pandemic, Fastmarkets heard on March 31.The closure of borders and reduced port operations across African...Read More
Ferrous scrap prices in the Mexican steelmaking regions of Monterrey and Bajio rose during the week ended Friday March 27 - bucking the trend in global markets - due to a strong devaluation of the peso.Most scrap buyers were forced to increase prices by 150-250 pesos ($4-10) last week.Some contractual volumes of ferrous scrap are quoted in dollars in Mexico, and a considerable amount of scrap come...Read More
The closure of borders and reduced port operations across African countries have led to month-long delays of copper cargoes, while suppliers have raced to re-route goods over the past week. "We are now stressed out trying alternative routes. But the problem is even if the cargoes can depart from other ports, their port capacities are significantly lower. We are talking about delay in terms of mont...Read More
The Turkish steel mills have gone quiet in the deep-sea scrap markets after the recent sharp fall in prices, with more mills shutting down their operations due to the Covid-19 pandemic, sources said on Tuesday March 31.Two steel mills booked Baltic Sea cargoes late last week at around $206-207 per tonne cfr for HMS 1&2 (80:20), which sent the daily scrap indices down by $23.42 per tonne at the beg...Read More
China's official manufacturing purchasing managers' index (PMI) rebounded to 52 in March, after 35.7 in February, which means 52% of purchasing managers reported conditions were "better" in March than they were a month earlier. This has provided some support to the base metals this morning, Tuesday March 31.Asian-Pacific equity indices and pre-market western futures were mixed. Japan's preliminary...Read More
Xin Guobin, Deputy Minister of Industry and Information Technology (MIIT), has urged regional officials to speed up the introduction of policies to boost automobile consumption. Speaking at a press conference during China's Manufacturing Industry Resumption Meeting on March 30, Xin said MIIT are "actively cooperating with relevant ministries and commissions to study policies and suggestions for st...Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 31 that are worth another look.The Spanish steel industry has demanded clarification from the government following a March 29 decree to shut down all non-essential production as part of the battle to contain the Covid-19 pandemic, Fastmarkets heard on March 31.The closure of borders and reduced port operations across African...Read More
European domestic prices for hot-rolled coil were almost unchanged day on day in a slow market, sources told Fastmarkets on Tuesday March 31.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was fairly stable at ?,?472.86 ($522.84) per tonne on Tuesday, down by only ?,?0.27 per tonne day on day from ?,?473.13 per tonne on March 30.Tuesday's...Read More